UBM Development confirmed at BUY, TP EUR 51.0 - Project trading irons out Covid-19 dent
Stellar H1 and guidance result in upward revisions of FY 21 estimatesCovid dent should not materialize, year supported by project trading
Further increase in four year pipeline to EUR 2.4 bn
Cost inflation risks managed on forward sold projects
Higher FY 21 estimates result in a target price increase
UBM Realitaetsentwicklung is engaged in the the development, utilization and management of real estate. Co.'s projects include: hotels; trade/entertainment; office blocks; logistics/commerce; urban development; residential buildings; revitalization; special projects; and garages/parking.
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